BeatHub Entertainment has acquired the 50% stake in the operator of Bogotá’s Movistar Arena that was held by Chile’s BeLive Entertainment Group.
The deal leaves the Colombian group with 100% of Colombiana de Escenarios, which runs the venue under a concession from the city’s recreation and sports institute, the IDRD.
Neither party disclosed what BeatHub paid.
The transaction was announced on Thursday (September 17).
BeLive had been BeatHub‘s partner in the arena since the project was first developed, and now exits Colombiana de Escenarios entirely.
BeatHub was built by the founders of Tuboleta, which the group calls Colombia’s leading ticketing marketplace, and also owns promoter Breakfast Live, technical production firm Thunder Production, and catering business Venues Snacks.
The company filed in June for clearance from Colombia‘s competition regulator, the Superintendence of Industry and Commerce (SIC), to become sole shareholder of Colombiana de Escenarios.
The move was “simply a shareholding reconfiguration of an existing company in which BeatHub already had control in competition terms,” according to the regulatory file reviewed by Colombian outlet Valora Analitik.
The Movistar Arena opened in 2018 and has drawn more than 5.5 million people and hosted over 400 artists since, according to BeatHub.
The company expects the venue to stage more than 160 events in 2026.
“We have spent 26 years building this ecosystem and developing the entertainment industry in Colombia.”
Eduardo Olea, BeatHub Entertainment
“We have spent 26 years building this ecosystem and developing the entertainment industry in Colombia,” said Eduardo Olea, CEO of BeatHub. “We believe in the country and in the potential that this industry has.
“Consolidating 100% ownership of the Movistar Arena reflects that conviction and our decision to stay, to keep investing, and to keep building in Colombia with a long-term vision.”
The deal was financed through the Bonus private capital fund’s Infrastructure II compartment, which is managed by Alianza Fiduciaria, BeatHub said.
Abello Galvis Abogados advised on legal matters and G&P Smart Consulting on financial matters, with Baker & McKenzie providing credit-side legal support.
BeLive Entertainment Group is headquartered in Santiago and produces more than 250 events a year across Chile, Colombia, Peru, Ecuador, and Uruguay, as previously reported by MBW.
Until now, it held stakes in the arenas in both Santiago and Bogotá.
Those two buildings have moved in different directions inside ten months: in December 2025, Live Nation took a majority stake in the 15,000-capacity Santiago venue, in a partnership with BeLive.
That arena is no longer a Movistar Arena either. On September 5, it was relaunched as the Santander Arena, ending 18 years under the telco’s name, after Millicom, which now owns Movistar‘s Chilean operations, declined to renew the naming deal and Banco Santander stepped in.
Live Nation has kept buying arenas and promoters across the region since.
In January, it took a majority stake in Bizarro Peru – the Peruvian arm of Bizarro Live Entertainment, itself a BeLive company. In June, it acquired a majority stake in Movistar Arena Buenos Aires, a building that hosts more than 250 events and draws more than 2.5 million fans annually, and agreed to buy a majority stake in Argentine promoter Dale Play Live.
Which makes BeLive the quiet story here. Since December, the Chilean group has seen Live Nation take majority control of its Santiago arena and its Peruvian promoter, and has now sold its Bogotá stake to BeatHub. It retains a minority holding in the Santander Arena, the rest of the Bizarro Live promoter network, a stake in ticketing business Punto Ticket, and food and beverage operations Caba and Vive Snack.
Live Nation‘s own Colombian presence predates all of that. It bought a majority stake in Bogotá promoter Páramo Presenta, the company behind Estéreo Picnic, in 2023. Through Páramo and Mexico’s OCESA, it has operated the 15,000-seat Arena Cañaveralejo in Cali since May last year.
“Latin America is on fire, small to big to festivals,” Live Nation President and CEO Michael Rapino said on the company’s Q1 2026 earnings call in May.
President and CFO Joe Berchtold has said Live Nation is targeting 48 new venues within five years.
BeatHub‘s next arena is DAVIarena, a 17,200-capacity building in Sabaneta, in the Aburrá Valley outside Medellín, developed in partnership with bank Davivienda.
Davivienda took the naming rights in May, rebranding what had been the Arena Primavera project. The venue is due to open on November 14 with a concert by Juanes.
“With the Movistar Arena in Bogotá and the coming opening of DAVIarena in Medellín, we will have two world-class arenas in the main markets in the country.”
Gabriel Sánchez, BeatHub Entertainment
“With the Movistar Arena in Bogotá and the coming opening of DAVIarena in Medellín, we will have two world-class arenas in the main markets in the country,” said Gabriel Sánchez, Director of Strategy at BeatHub. “This will allow us to strengthen Colombia‘s strategic position within the routing of tours around Latin America, attract more content, and generate new opportunities for the whole live entertainment industry.”
Sánchez told Colombian business daily La República that DAVIarena represents an investment of COP 320 billion (approx. USD $100 million at current exchange rates), and named Barranquilla as a candidate for the group’s next project.
The peso has strengthened sharply this year: the same figure was reported as USD $84 million when the investment was announced in May.
“We believe that at this moment there is no player in the entertainment sector betting on the country as much as we are,” he told the paper.
Still unresolved is what the Movistar Arena will be called.
Telefónica has left the Colombian telecoms market: Millicom, which trades as Tigo, completed its takeover of Colombia Telecomunicaciones in April, after buying Telefónica‘s controlling stake in February.
Valora Analitik reports that sources close to the process expect Tigo to take the naming rights, which would retire the Movistar Arena name in use since 2018.
Santiago offers the template: the same new owner, the same decision not to renew, and a different sponsor’s name over the door inside two months.
BeatHub did not address the naming rights in its announcement.
Across its companies, the group says it produces more than 200 events a year, including four festivals drawing over 30,000 people each, and generates around 350 direct jobs.Music Business Worldwide
BeatHub Entertainment has recently acquired the 50% stake in Colombiana de Escenarios, the operator of Bogotá’s Movistar Arena, previously held by Chile’s BeLive Entertainment Group. This acquisition grants BeatHub full ownership of Colombiana de Escenarios, which manages the arena under a concession from the city’s recreation and sports institute, IDRD. The financial details of the transaction, which was announced on September 17, have not been disclosed.
BeLive Entertainment Group had been a partner with BeatHub since the arena’s inception and is now completely exiting Colombiana de Escenarios. BeatHub, which was founded by the creators of Tuboleta (Colombia’s leading ticketing platform), also owns the promoter Breakfast Live, technical production firm Thunder Production, and catering business Venues Snacks. In June, BeatHub sought clearance from Colombia’s competition regulator, Superintendence of Industry and Commerce (SIC), to become the sole shareholder of Colombiana de Escenarios, describing this move as merely a reconfiguration of an existing shareholding.
The Movistar Arena opened its doors in 2018 and has since attracted over 5.5 million visitors and hosted more than 400 artists. BeatHub anticipates that the venue will host more than 160 events in 2026. Eduardo Olea, CEO of BeatHub, emphasized the company’s long-term commitment to Colombia, stating, “We believe in the country and in the potential that this industry has,” and noted that owning 100% of the Movistar Arena reflects their dedication to investing in the Colombian entertainment landscape.
The acquisition was funded through the Bonus private capital fund’s Infrastructure II compartment, managed by Alianza Fiduciaria. Legal advice was provided by Abello Galvis Abogados, with G&P Smart Consulting advising on financial matters, and Baker & McKenzie offering legal support on the credit side.
BeLive Entertainment Group, headquartered in Santiago, produces over 250 events annually across several Latin American countries, including Colombia, Peru, Ecuador, and Uruguay. Previously, BeLive held stakes in arenas in both Santiago and Bogotá. However, the trajectory of these venues has diverged in recent months. In December 2025, Live Nation acquired a majority stake in Santiago’s 15,000-capacity venue, which has since been rebranded from Movistar Arena to Santander Arena after Millicom, the current owner of Movistar’s Chilean operations, opted not to renew the naming rights.
Live Nation has been expanding its presence in Latin America, acquiring stakes in various arenas and promoters, including a majority stake in Bizarro Peru and Movistar Arena Buenos Aires. This series of acquisitions marks a significant shift for BeLive, which has seen Live Nation take control over its Santiago venue and Peruvian promoter, while also selling its Bogotá stake to BeatHub. Despite these changes, BeLive retains minority interests in the Santander Arena, the Bizarro Live promoter network, and ticketing business Punto Ticket.
Live Nation’s involvement in Colombia predates these acquisitions, having secured a majority stake in Bogotá promoter Páramo Presenta, the organization behind the popular Estéreo Picnic festival, and operating the 15,000-seat Arena Cañaveralejo in Cali since May last year. The company’s President and CEO, Michael Rapino, has commented on the thriving Latin American market, indicating a target of 48 new venues within five years.
BeatHub’s next project is the DAVIarena, a 17,200-capacity venue in Sabaneta, outside Medellín, developed in partnership with Davivienda, which took naming rights for the venue. The DAVIarena is set to open on November 14 with a concert by Juanes. Gabriel Sánchez, BeatHub’s Director of Strategy, expressed confidence in Colombia’s potential within the live entertainment industry and noted that this new venue, along with the Movistar Arena, would help solidify the country’s appeal for touring artists.
Sánchez also mentioned that the investment in DAVIarena amounts to approximately COP 320 billion (around USD $100 million), with plans for future projects in Barranquilla. He asserted that BeatHub is making significant investments in the Colombian entertainment sector, claiming, “We believe that at this moment there is no player in the entertainment sector betting on the country as much as we are.”
An ongoing discussion surrounds the naming rights for the Movistar Arena following the exit of Telefónica from the Colombian market, with Millicom acquiring the telecoms business. There is speculation that Tigo might take over the naming rights, potentially ending the use of the Movistar name that has been in place since the arena’s opening.
In summary, BeatHub Entertainment’s acquisition of the Movistar Arena’s operational stake signifies a strategic move to strengthen its position in Colombia’s burgeoning entertainment industry. With the anticipated opening of the DAVIarena and ongoing investments, BeatHub is poised to enhance Colombia’s appeal as a key destination for live events and concerts in Latin America, while navigating the dynamic shifts in the regional market.
